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Do you have ideas or suggestions for changes? Then we look forward to your feedback! We make every effort to keep all metrics and information as up-to-date as possible. However, if you discover an error or outdated information, we would be delighted to hear from you.
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Transferable to your own wallet
Self-custody of cryptocurrencies plays an important role for many users who want to manage their cryptocurrencies and thus their "private keys" themselves and not leave them in the hands of the exchange. Most exchanges offer the option of sending the purchased cryptocurrencies to their own wallet.
Deposit protection is a safeguard for the assets of users of a stock exchange or broker, which is intended to protect investors in the event of insolvency or a high loss due to a hacker attack. Service providers based in Germany are legally obliged to provide deposit protection of €100,000. In some cases, international exchanges have a special insurance policy that covers a certain portion of the assets instead of a deposit guarantee.
The overall rating is the average of our individual ratings. Our ratings do not constitute investment advice, but merely our personal opinion. You are welcome to use them as rough indicators and additional perspective. In the dynamic and fast-growing crypto sector, parameters can often change from one day to the next, so we cannot guarantee that the rating data is up to date. Therefore, please never use our ratings as an isolated basis for decision-making and not as a substitute for your own research.
This rating describes our personal assessment of the user-friendliness of the product. How easy is the onboarding process? How modern is the user interface and is it easy to use? Are all the important functions quick and easy to find? We ask ourselves all these questions in order to give a personal rating from 1 to 10 points.
This rating describes our assessment of the fee structure of a stock exchange or broker. It is not only the amount of fees that can differ, but also the type of fees. The most common type of fees for crypto exchanges are the "maker/taker" fees or spreads. In some cases, there are also hidden fees that are not recognizable to users at first glance.
For products or services in the crypto space, trust and security should be the biggest factors in the selection process. Since we could not seriously evaluate the technical security of a platform or product, we analyze publicly available factors such as security features, location, regulation, certifications, audits, team/company, general reputation and, of course, track record.
Crypto doesn't have to be cryptic. Especially for beginners, the first contact with the crypto world can be overwhelming. With this rating, we give our assessment of how easy it is for beginners to find their way around: from the onboarding process to using the most important functions.
Customer support is an important factor for many users. A long wait or no response at all in the event of problems can be frustrating, especially when it comes to sensitive topics such as finances. With this rating, we give our assessment of the quality of customer support. In order to provide as balanced an assessment as possible, we also include user opinions from other platforms in our evaluation.
Some exchanges and brokers are regulated by financial supervisory authorities in certain countries/states. This often entails strict financial regulatory requirements and compliance requirements to which the company must adhere. Regulatory clarity can contribute to greater transparency and thus also greater trustworthiness.
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MEXC vs Bybit in comparison
Overview
- Cheap / No fees
- Large token selection
- Lots of features for traders
- Might be complex for beginners
- Clear trading view
- Large selection of trading tools
- Low fees
- Might be complex for beginners
- No regulation
Features Comparison
- Cryptocurrencies
- Cryptocurrencies
0
%
0.00%
0.00%
₿
0.0003
0.1
%
0.06%
0.01%
₿
0.0005
1800
+
$
1
240
+
$
1
Exchange Rating
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Functions
- Spot, futures trading options
- MEXC margin trading support, quantitative trading features
- Supports over 1600 coins and 2000+ trading pairs
- Spot, derivatives, bot trading, and copy trading8
- Bybit Earn
- Launchpad
Company Details
Our Review
MEXC is a top-tier exchange, highly favored for its extensive range of cryptocurrencies and zero trading fees. Its advanced features, including bot support and a wide variety of trading options, make it ideal for experienced traders. However, the platform's complexity may present challenges for beginners, and it’s not available to U.S. users. Overall, MEXC is a robust platform for those looking to maximize their trading capabilities without high fees.
Bybit is a top platform for advanced traders, offering extensive derivatives and leveraged trading options with competitive fees. It excels in security and user experience but may be complex for beginners due to its advanced features. Geographical restrictions, particularly in the U.S., limit access, and withdrawal fees can vary. Overall, Bybit is well-suited for experienced traders looking for sophisticated tools and high-risk trading opportunities, but beginners should approach with caution.
Bybit vs MEXC: A Detailed Comparison
When evaluating the top centralized cryptocurrency exchanges, Bybit and MEXC often come up in discussions due to their robust offerings and user-friendly platforms. Both cater to different types of traders, with unique features and competitive fee structures. Here, we provide a comprehensive comparison to help you determine which platform best suits your trading needs.
Overview
Bybit is renowned for its extensive derivatives trading capabilities, targeting professional traders with features like inverse futures contracts and perpetual contracts. Founded in 2018, Bybit has quickly grown, offering a clear trading view and low fees, making it a favorite among experienced traders. The platform is particularly noted for its high liquidity and responsive customer support.
MEXC, also founded in 2018, stands out for its vast selection of over 1,520 cryptocurrencies, making it a versatile platform for various trading preferences. MEXC is ideal for both novice traders and those looking to utilize trading bots, thanks to its quantitative trading features and a range of spot and futures trading options.
Features and Trading Tools
Both Bybit and MEXC offer a plethora of trading tools, though their primary focuses differ slightly.
Bybit excels in derivatives trading, providing features like options trading, futures contracts, and margin trading with leverage. These tools are tailored for professional traders who engage in complex trading strategies and need a robust futures trading platform. Bybit also offers a transparent fee structure, with low trading fees and minimal withdrawal fees, making it cost-effective for high-volume traders.
On the other hand, MEXC offers a more diverse range of digital assets, supporting over 1,800 cryptocurrencies. This extensive selection is paired with various trading options, including spot trading, futures trading, and staking. MEXC’s platform is designed to accommodate traders who prefer a wide range of assets and tools to diversify their trading strategies.
Fees and Costs
Fee structures are crucial when choosing a trading platform.
Bybit boasts competitive fees with a 0.1% maker fee and a 0.06% taker fee, appealing to traders looking to minimize costs. Additionally, Bybit offers sign-up bonuses of up to 5,500 USDT, providing a significant incentive for new users.
MEXC, known for its zero trading fees on select trades, provides an attractive proposition for cost-conscious traders. This exchange also supports various payment methods, enhancing accessibility for global users. The minimum deposit requirements are low, making MEXC a viable option for new traders entering the cryptocurrency trading arena.
Security and Trust
Security is paramount in the volatile world of cryptocurrency trading.
Bybit employs robust security measures, including cold storage for digital assets, two-factor authentication, and regular security audits to ensure a secure trading environment. These features have helped Bybit maintain a reputation for high liquidity and substantial user trust.
MEXC also prioritizes security with similar measures, such as two-factor authentication and deposit protection. While both platforms offer solid security, Bybit’s extensive security protocols and regulatory compliance in multiple jurisdictions may provide an extra layer of assurance for traders.
User Experience and Support
User experience can significantly impact your trading efficiency and satisfaction.
Bybit’s platform is praised for its clear and intuitive trading view, making it easier for traders to monitor market conditions and execute trades swiftly. The platform’s responsive customer support is another highlight, providing timely assistance to users encountering issues.
MEXC offers a comprehensive user interface, albeit with a steeper learning curve for beginners. The platform’s wide range of features can be overwhelming initially, but it proves beneficial for traders seeking extensive functionalities. MEXC’s customer support is also commendable, ensuring that users have access to help whenever needed.
Conclusion
Both Bybit and MEXC present compelling options for cryptocurrency traders, each excelling in different areas. Bybit is the preferred choice for experienced traders focusing on derivatives trading, thanks to its robust trading tools, low fees, and high liquidity. MEXC, with its extensive range of cryptocurrencies and quantitative trading features, caters to traders looking for a versatile and feature-rich platform.
Ultimately, the choice between Bybit and MEXC will depend on your trading preferences, experience level, and specific needs in the cryptocurrency trading environment. By considering the detailed comparison above, you can make an informed decision that aligns with your trading strategy and goals.
About the author
At Exchange Flow, Ethan is recognized as the resident crypto expert. With 10+years of experience navigating the waters of global crypto exchanges, Ethan is a trusted voice in the ever-evolving world of digital currencies. He tests and scrutinizes exchanges so you don’t have to, offering reviews and articles that newbies and seasoned traders alike find invaluable. When he’s not coding, Ethan likes to travel and play retro games. He uses his crypto earnings to fund his trip around the globe.
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